Cloudera aims to provide 'enterprise data cloud' after Hortonworks merger
Enterprise data cloud company Cloudera Inc, Friday announced the completion of the merger with Hortonworks Inc., to deliver first "enterprise data cloud" from Edge to AI (artificial intelligence). "An enterprise data cloud supports both hybrid and multi-cloud deployments, providing enterprises with the flexibility to perform machine learning and analytics with data..," a company statement said. "This combined team and technology portfolio establish the new Cloudera as a clear market leader with the scale and resources to drive continued innovation and growth," Cloudera, Chief Executive Officer, Tom Reilly said.
Following the merger, Cloudera would continue to trade on the New York Stock Exchange. Hortonworks stockholders received 1.305 common shares of Cloudera for each share of Hortonworks owned. "We will provide customers with a comprehensive solution-set to bring the right data analytics to data anywhere the enterprise needs to work, from the Edge to AI, with industry's first Enterprise Data Cloud," Reilly added.
(With inputs from agencies.)